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tv   Asia Business Report  BBC News  June 8, 2017 1:30am-1:46am BST

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a former fbi director says president trump pressured him to drop an inquiry into links with russia. james comey issued a statement ahead of a senate hearing in which he said the president demanded his loyalty and asked him to lay off investigating the former national security advisor, michael flynn. a big search operation is continuing for a burmese military plane with more than 120 people on board which went missing over the andaman sea. most of the passengers were soldiers and their families. and this video is trending on these fossils discovered in morocco suggest humans evolved 100,000 years earlier than previously thought. the find also suggests humans evolved across all of africa rather than in the east of the continent. that's all from me for now. stay with bbc news. and the top story here in the uk: after a seven—week battle, the political parties have stopped campaigning as britons head to polls in the next few hours. live coverage on bbc news.
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now on bbc news all the latest business news live from singapore. it is triple threat thursday. good global event create time oil in the market. a new generation of robots hitting the factory floor. a factory helping manufacturers prepare for the future. it is a thursday, everyone. good morning, asia, hello, world. we start off the programme with the us dollar dropping seven week low to what some are calling triple threat thursday and it will
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indeed be a busy day with plenty to make traders edgy. sacked fbi directorjames comey gives a testimony to the senate committee and the european central bank deciding on interest rate policy and of the uk is waiting in its general election that will choose a government that will steer it through brexit. what will it mean to the pound and the euro? i asked an expert if these global events are likely to have significant impact. the fact the trump administration has managed to get nothing through in its legislative agenda is starting to see this trump inflation effect drop. a lot of life sucked out of the expectations of federal rate hikes in the us. do you see
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more pressure on the us dollar going forward ? more pressure on the us dollar going forward? i think we will, into the next 2a hours at least. into the early pa rt next 2a hours at least. into the early part of next week as well when we get the rate hike decision from the federal reserve and it should remain under sustained pressure. the uk elections, what kind of impact will it have on the pound? in a short way of saying it, if labour we re short way of saying it, if labour were to get into power, or a hung parliament, that would be perceived asa parliament, that would be perceived as a negative for sterling initially. remember these results will come out in asian time tomorrow morning, much like brexit. an increased majority for the tories will see that pound rise reflecting the weaker dollar we are seeing against the other majors. what will this mean for the euro, the policy from central back. we are not
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expecting major changes that. a lot of push and pull is because of the developments in the global landscape but what about the japanese yen? with the rate differential between japan and the us and the interest rates closing up, it has put added pressure on the japanese in yen. double—edged sword, a negative for exporters are positive for importers? yes, unfortunately oil also fell overnight so will be an offset. which among the major currencies do you like given this environment? you cannot go too far away from the japanese yen. emerging markets has seen the singapore dollar be very strong and investors will be looking for someone nice and
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quiet to put their money over the next few days. the japanese government hasjust next few days. the japanese government has just released economic numbers of revealing the country ‘s economic growth between january and march was a slower than first thought. revised gdp figures reveal and analyse growth rate of just i%, revised down to 2.2%. latest trade figures will be announced. data which is a key indicator of global demand. what are we looking out for? an analyst joined us from beijing. he strayed slowing or will the numbers remain stable? import will be strong this year going into china but some signs that economic activities and domestic economy is starting slow down. if the import number stays down. if the import number stays down in may, that would be a site confirming domestic growth may be
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slowing. possible trade frictions between beijing and washington, have those fears ease? yes, certainly in the short term. they are discussing trade globalisation matches and have reached agreement on other aspects of the relationship. we expect this moment 3—piece will last mainly because us policies unpredictability and the fact that the us policy is dependent on the north korea issue. it is never going to an entirely satisfy the us. not only the trade data, is set investment retail sales with beijing curbing lending has these avoided debt risks and above
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all? that process has only begun. the debt mountain for china is massive and it will take years to sort that problem out. their steps this year have been positive. they have tightened credit policy. that is encouraging. they will be easing off that campaign as they come into a political transition. off that campaign as they come into a politicaltransition. leadership will want stability ahead of that. the er you, rafferty. donald trump has been criticised by both political and business leaders for withdrawing america from the paris treaty. some are cheering the decision, however. america's largest underground coalmining firm told us
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whether the president made the right decision. mr trump is a hero and lauded for doing the right think which —— thing from the treaty. it did not obligate china but obligated the us, and china has a coal industry which is many times bigger. us mining chief executive robert murray. a new generation of robots are on the way — smarter and more mobile, promising to bring major changes to the factory floor but how are they preparing for these arrivals? experts helping companies to get ready. welcome to the factory of the
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future. it is a multi— million us dollar project set up by mackenzy and itaims dollar project set up by mackenzy and it aims to help companies make the most of the new technology that is becoming available. some of the highlights are predicted maintenance. there is also 3—d printing. it is getting sophisticated. they can print out more complex designs using more materials and it means factories can print out spare parts whenever and wherever they need them rather than keep a warehouse full of spares. wherever they need them rather than keep a warehouse full of sparesm south east asia 70 million jobs are at risk from this. in the future we see people as platforms. if you look at the transport sector, they are ripe for transformation. more
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autonomous vehicles. we're starting to see them here. manufacturing industry, it will see changes in the transport logistics. if you go into healthcare, there will still be a need for tasks to be performed by humans. there will still be a need for old traditional skills but i would encourage people to make it is a period of renewalfor each individual and they need to understand how to work with machines like the ones we have in the background. technology is transforming everything, forcing companies to retool the way they work—it is all about efficiency and productivity. in asia, where labour is comparatively cheap, will companies embrace it as quickly? before we go, a look at the markets.
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as you can see, the nikkei is already open for trading and up. the all ordinaries lower due to a fall in oil prices overnight. nevertheless not much of an imam. gains in the us stocks with investors are looking ahead to the testimony of james comey, investors are looking ahead to the testimony ofjames comey, the uk election and the central bank announcement. thank you for your time. — now. the top stories this hour. former fbi directorjames comey has said donald trump asked him to drop an investigation into a top white house official‘s links with russia. an anxious wait on the ground, after a burmese military plane
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with more than 100 people onboard crashes. friends and admirers of ronnie corbett gathered at westminster abbey to remember the entertainer who died last year at the age of 85. he was best known for his partnership with ronnie barker in the two ronnies. 0ur arts correspondent david sillito was at the service. we are here to celebrate the life of ronnie corbett. name, ronald goliath corbett. laughter. westminster abbey is a place for solemn state occasions. today, though, it was anything but. this was a celebration of a lifetime of laughter. it is a memorial, but... i might start laughing in westminster abbey, and i won't apologise! a lot of people will be laughing and people crying, and my memory isjust laughs. these are friends and colleagues
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from the days of cabaret, the frost report, the two ronnies, 60 years of show—business memories. and inside a certain easy chair, and behind it a very specific number of candles. four candles. no, fork handles. there you are, four candles. no, fork handles. handles for forks. laughter. becoming friends with this remarkable man that i'd had my head for as long as i can remember was truly one of the great pleasures of my life. and we'd talk on the phone, i still have many... sorry. i still have many of his answerphone messages. good heavens! wonderful!
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he'd come to the phone, and always say, is it me? it was the final goodbye from them and goodbye from him, and a walk past the one empty seat. david sillito, bbc news, westminster abbey. the creator of the charlie and lola books, lauren child, has been named as the new children's laureate. she was presented with the honour in hull, the current uk city of culture. the author said she wanted to allow children more time to dream in a world where they're grappling with social media and the recent terror attacks. time now for all the sports news in sport today. hello there, i am tulsen tollett and this is sport today, live from the
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bbc sport centre. coming up on the programme: 12 months ago novak djokovic owned all four grand slam titles, now he has none, as dominic thiem knocks him out of the french open. pakistan beat south africa after rain forces short their icc champions trophy match. and in 15 minutes the golden state warriors will look to make it 3—0 in the best of seven nba finals when they tip off against the cleveland cavaliers. hello and welcome to the programme. and we start at the french open in paris, and the story from wednesday is that defending men's champion novak djokovic has been knocked out at the quarter final stage. the 12—time grand slam winner lost in straight sets to austria's dominic thiem and austin halewood was watching. a year ayearago, a year ago, novak djokovic was just a few days away from winning his fourth straight clan slam. but what a difference 12 months can make as the defending champion desperately tried to hold on to the last of his titles against dominic thiem.


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